Apartment Rents in Dubai Stabilise
2 Comments Published by dubaigirl January 12th, 2009 in Living, Moving, News.It seems like there will finally be some respite for Dubai expats struggling with the huge jump in apartment rents over the last few years. According to a property firm Asteco, the average rent of a one bedroom apartment rose 4 per cent last year with no rise at all in the final quarter.
“Certainly for the next three to nine months I don’t think there will be anything that will cause a move back to rapid inflation,” Mr. Chambers, Managing Director of Asteco said yesterday.
This will come as a relief to several expats for whom the rent takes up a major portion of their income. There are also signs of some landlords offering better payment terms, with the option of paying it monthly instead of the one cheque policy.
In addition, RERA will soon come up with a rental index and provide information to tenants on the minimum and maximum rents in different parts of Dubai.
To read the article, click here.
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That is just rubbish. I paid 280K for my condo this past June while a colleague just got a place in the same complex for 325K. I don’t see the likes of JBR, Emirates Hills, JLT etc. going down in rents anytime soon.
Oh dear Jack. Methinks you must be feeling pretty bitter? 280K? you got ripped.